How much does a will cost?

Shewhomustbe...

Hi,

After the unexpected and shocking death of a friend this week, myself and my partner had a chat about getting ourselves a will (each).

I'd be grateful for any advice about drawing one up. Is it absolutely necessary to use a solicitor? And any ideas regarding how much it'll cost if we use one?

Thanks.

GusherING

Always go to see a solicitor to draft your will. People think wills are easy things to write but in fact they are a pretty complex legal document. Remember, because you will no longer be alive when it is relied upon, no changes can be made to it once executed.

Will drafting may require two meetings with your solicitor.

Also, if your wife wants to get one done, you could meet the same solicitor simultaneously at the outset, but I imagine they will want to interview each of you separately so there are no undue influence issues (i.e. should one partner be reluctant to speak their mind honestly in front of the other when giving directions for their will).

To save yourself time, compile a detailed list of all assets, bank accounts, savings accounts, shares, property etc that you would like to dispose of. If you had all this to hand at the outset, it might save an extra interview.

Bepolite

I'd be inclined to agree with the poster above, however if you're will is very simple it is possible to do it yourself or use a solicitor for a very short meeting.

Pat Mustard

A Will can often cost anywhere between €50 and €200, depending on all of the circumstances, and the time and difficulty involved in drafting. Wills are not money spinners for solicitors. They are loss leaders.

Can you do it yourself? There's no law against it, but someone other than a solicitor or experienced legal executive would be unlikely not to make a mess of it. This could be costly in the long run.

Addle

http://www.citizensinformation.ie/en/death/before_a_death/making_a_will.html

My local credit union offers free legal advice to members for making a will.

Andrea B.

Hi.
Do not take it lightly. As with the choice of any profession (if you do decide to go solicitor or other advisory route) there are different standards and competencies. Absence of, or incorrect advice may cost the beneficiaries.
I have posted an experience here. I respect it having been locked, but nevertheless, it is an example of how incompetence can cost.

Seve OB

I believe you can buy blank wills for a few quid in the likes of Easons. I guess it all depends on what you have to put in it. if it's straight forward enough stuff, i don't see why this wouldn't work

our solicitor did it free for us when we bought our house, mind you we paid them a few quid for doing that!!!!

Bepolite

stevieob wrote: »

I believe you can buy blank wills for a few quid in the likes of Easons. I guess it all depends on what you have to put in it. if it's straight forward enough stuff, i don't see why this wouldn't work

our solicitor did it free for us when we bought our house, mind you we paid them a few quid for doing that!!!!

It will be fine as long as it's simple, bit like these DIY divorces, grand if simple. The issue happens when you cut out one of your kids because he'll only wear the colour blue, or for what ever reason and after your dead a section 117 application means the lawyers get a nice chunk of the inheritance.

The other issue can be people start getting clever and make bequests with fall foul on the rules against inalienability of land, start making up bonkers trusts and various other things. These are just my ridiculous musings I'm sure someone with half a clue would give you a lot more.

Peregrinus

And the third issue is people stuffing up the complex, technical witnessing requirements, which can lead to the whole will possibly being invalid.

Bepolite

Peregrinus wrote: »

And the third issue is people stuffing up the complex, technical witnessing requirements, which can lead to the whole will possibly being invalid.

Hadn't thought of that! Reason enough, on it's own, to spend €200 at a solicitors to be honest.

Muahahaha

Bepolite wrote: »

Hadn't thought of that! Reason enough, on it's own, to spend €200 at a solicitors to be honest.

I've seen a solicitors on mydealpage.ie offer will drafting for €50 recently, not sure how often they do it but it wouldn't be the first time that they have so I guess the promotion pops up a few times a year, it might be worth your while looking out for it as €200 is a fair chunk.

Bepolite

Muahahaha wrote: »

I've seen a solicitors on mydealpage.ie offer will drafting for €50 recently, not sure how often they do it but it wouldn't be the first time that they have so I guess the promotion pops up a few times a year, it might be worth your while looking out for it as €200 is a fair chunk.

Oh absolutely, if you can find it cheaper do it. I'd be suprised if there's not a groupon at some point!

Valentine1

Some Wills are simple others not so. Take proper advice and make sure you are satisfied that all your wishes are dealt with fully. E100 or E200 may seem like a lot now but it could end up saving your family thousands.

Steve

^^ sound advice.

A legal professional will also give you advice on the tax implications of a will for your family and beneficiaries. Believe it or not, the taxman still comes after you when you're passed on.

The main things are correct witnessing (can't be a beneficiary) and appointing an executor but other than that you can DIY it.

Valentine1

Steve wrote: »

^^ sound advice.

A legal professional will also give you advice on the tax implications of a will for your family and beneficiaries. Believe it or not, the taxman still comes after you when you're passed on.

The main things are correct witnessing (can't be a beneficiary) and appointing an executor but other than that you can DIY it.

Obviously I agree with everything you've said apart from the final paragraph. However to my mind the witnesses and executors are the most straightforward parts of a will. It is the fine points of bequests and considering all the possible outcomes for a Will that are complicated so I wouldn't describe any element of a Will as being a safe DIY job.

Pat Mustard

Steve wrote: »

The main things are correct witnessing (can't be a beneficiary) and appointing an executor but other than that you can DIY it.

It's not worth the risk of litigation for one thing, apart from any of the other costly screw-ups that can easily be made by a solicitor, not to mind a layman.

The costs of litigation usually come out of the estate. The beneficiaries will lose out, but the lawyers will be paid. This is avoidable at the cost of a having a Will drafted by a solicitor.

The DIY kits are dangerous.

Steve

Some good information on it here:

http://www.lawsociety.ie/Documents/pdfs/will.pdf
http://www.lawsociety.ie/Lawinfo/Areas-of-Law/Wills--Estates/

Shewhomustbe...

Oh wow! Haven't checked this since I got the first email letting me know there was a reply.
Thanks so much to you all for passing on information and your experiences. We'll definitely go the solicitor route, once we figure out who gets what!

Thanks again :-)